Latest news with #RM444
New Straits Times
24-07-2025
- Automotive
- New Straits Times
China's BYD to assemble EVs in Pakistan from 2026
KARACHI: Chinese electric vehicle giant BYD plans to roll out its first car assembled in Pakistan by July or August 2026 to capture growing demand for electric and plug-in hybrid vehicles in the region, a company executive said on Wednesday. BYD, the world's top EV maker, has been expanding rapidly outside its home market, where it is in a strong price war. The Pakistan plant addresses rising demand from emerging markets and allows the company to take advantage of incentives offered by the Pakistani government. The plant has been under construction since April near Karachi in a partnership between BYD and Mega Motor Company, a subsidiary of Pakistani utility Hub Power, Danish Khaliq, vice-president of sales and strategy at BYD Pakistan, told Reuters. It would initially have the capacity to produce 25,000 units a year on a double shift, he said. He did not elaborate on when the plant would achieve full capacity or say when mass production would begin there. The plant will start by assembling imported parts, with some local production of non-electric components, Khaliq said, adding it would initially produce vehicles for the domestic market, with potential to export to right-hand drive countries in the region depending on freight costs and business economics. "We do not foresee excess capacity in our system as demand in Pakistan will catch up," he said. BYD started delivering imported EVs in Pakistan in March. Khaliq did not give an exact sales number but said the sales of a few hundred cars had exceeded internal targets by 30 per cent. Khaliq said he expected the market size of EVs and plug-in hybrid cars in Pakistan to grow three to four times in 2025 from around 1,000 total units in 2024. BYD is targeting a 30–35 per cent share of the segment, Khaliq said. Based on a HUBCO filing, BYD Pakistan made around RM444 million (US$1.56 million) in profit in the March 2025 quarter. BYD will launch its Shark 6 plug-in hybrid pickup truck in Pakistan on Friday. China's MG already sells a PHEV SUV, while rival Haval is set to join the segment soon. Plug-in hybrids offer a more practical option in Pakistan as the country faces a lack of charging stations for all-electric vehicles. The government slashed power tariffs for chargers by 45 per cent in January to encourage EV uptake and private charging stations.
New Straits Times
16-05-2025
- Business
- New Straits Times
MARKET PULSE AM MAY 16, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened on a positive note Friday, as investors looked ahead to the release of Malaysia's first-quarter GDP data later in the day. The index is anticipated to trade within the 1,570 to 1,580 range throughout the day. In early trading, Fibromat was among the most actively traded stocks, rising by about six per cent to 54 sen. The gain followed news that its subsidiary secured a contract worth RM283 million for erosion control works in Kelantan. In the cryptocurrency market, Bitcoin is trading around RM444,586 level, while Ethereum is at approximately RM10,930. That's it for Market Pulse.
The Star
01-05-2025
- Health
- The Star
‘Exhaustion and short breath': hidden toll of Hong Kong's food delivery grind
Sunny Waseem* is often spotted on his motorbike with a food delivery bag weaving through the Hong Kong traffic under the scorching sun. However, what goes unnoticed is the sweat, headaches, thirst and anxiety to fulfil an order on time. The 38-year-old delivery rider routinely works more than 12 hours daily, handling back-to-back orders during the busy lunch rush. 'Most of our working hours are during the very hot weather. So it really affects [me], I feel exhaustion and increase in sweat and short breath,' said the full-time rider, who has six years of experience. Waseem said that he had to take painkillers several times a week to relieve headaches caused by the heat. However, he felt he could not afford to take breaks in the shade because the food delivery platform would downgrade him with its algorithms, leading to a reduction in his income. A recent Greenpeace survey of 117 delivery workers from ethnic minority backgrounds revealed that over 80% reported experiencing heat-related illnesses during work. 'During extreme weather, outdoor workers bore the brunt because they had no choice but to continue doing laborious work ... a lot of riders would just bite the bullet,' said Tom Ng Hon-lam, the green group's campaigner. About 100 of the survey respondents reported a surge in orders during hot and rainy days, as well as typhoons, with more than 70% having worked under these extreme conditions. In 2023, the government introduced a new three-tier warning system aimed at reducing the risk of heatstroke among outdoor workers. Guidelines on heatstroke prevention were updated last year to make the system more practical for both employers and workers. The green group hoped the government would consider establishing separate guidelines specifically addressing the needs of delivery workers. According to the Census and Statistics Department's latest report, there are around 13,000 food platform delivery workers in the city. Riders or couriers are divided into different tiers. The top-tier earners are those who meet target delivery times and do not reject orders, according to Waseem. He explained that the 'batch one' workers had priority in choosing shifts with the most orders. 'If I take a break for 15 minutes because I am afraid that I will have a heatstroke, somehow I will be unable to work for Foodpanda for a whole week,' he said. 'They will just calculate how many minutes I was absent from the shift, which will result in change in my batch.' When Waseem was demoted from batch one to tier two or three, his daily earnings decreased from HK$1,200 (RM667 or US$154) to around HK$800 (RM444). Following Deliveroo's recent departure from Hong Kong, Waseem now works for Foodpanda and Keeta, which he described as 'notorious' for penalising riders who did not meet their standards. Waseem now dared not to take breaks and risk being downgraded. He said that he prepared a large water bottle and drank ion supply drinks to stay hydrated. Mak Tak-ching, a member of the Riders' Rights Concern Group, noted that while some outdoor cleaners and security guards were given equipment by the employers to stay cool during hot weather, riders had to fend for themselves. He also called for greater long-term protection of riders' rights through formal employee recognition. Greenpeace also urged the platforms to consider riders' needs, including providing heat protection clothing, portable fans, or setting up rest stations with free water dispensers across the city. Foodpanda said on Wednesday that it had never required couriers to deliver orders within a limited time frame. 'Couriers have the option to accept or pass on any of the dispatched orders, and we offer them the flexibility to take breaks during their shift – at any time and from any location,' the company said. As for its batch system, the platform explained that the division was 'determined by an aggregate of various performance components', which meant passing on orders or taking breaks 'may or may not affect a courier's overall batch number'. Keeta said it was committed to offering riders flexible schedules and had provided them with equipment such as raincoats and water jackets. 'The safety and well-being of our riders are our top priorities, and we encourage them to prioritise their well-being and take breaks as needed,' Keeta said. – South China Morning Post
